In house flipping, you buy a house, remodel it, and sell it. It’s that simple. But the key to a successful house flipping cycle lies in your ability to effectively transform the building and add value without overspending.

When it comes to renovating, the pareto principle applies. About 20% of what you do would produce 80% of the value. Low on budget? Here are 5 things you need to focus on to get the most bang for your buck:

When renovating the KITCHEN, you have two options: a full renovation or selective updates, and if you're on a tight budget, it's best to opt for selective updates that can provide the most value. Replacing the cabinetry, sink, and fixing backsplash tiles on the walls might be all you need to give the kitchen a new look.

The second most important area to consider when renovating a house is the BATHROOM. Replacing old sinks and toilets with more water-efficient models and getting rid of concrete flooring in favor of newer flooring are examples of a full renovation. If you're looking for less expensive ways to update the bathroom, swapping in new fixtures can make a big impact on the value of your house.

PAINT & FLOORING are basic house improvements that can also increase home value. Many older homes have worn-and-torn flooring or carpeting that may need to be replaced. Ceramic tiles are very good options. Similarly, fresh paint can give the house a new lease on life.

CURB APPEAL is another important aspect to consider when renovating a house. First impressions matter, and the front of the house should look immaculate. Full landscaping of a dead yard can be expensive, but potted plants by the front door and edging the front walkway with flowers are small changes that can make a big impact.
#luxury
Finally, don't overlook the importance of LIGHTING. Outdated light fixtures should be replaced, and adding recessed lighting can create a subtle and upscale look. Dimmer switches are another inexpensive way to add a touch of luxury. Alternatively, replacing old light bulbs with new ones can also make a big difference in the appearance of the house.
Stay tuned for the next episode where we'll discuss how and where to get buyers for your house. Don't miss out!
See you on Friday.

Regards,
Lukman Shobowale